What are the key features to be successful in Ship Broking area?
I'm an Esl student in Van, who aim to become a manager of Ship Broking company. Since I arrived in Vancouver, I'm looking for a way to get in this sector. I need some enlightenment about it. Thank you #international-trade #shipbroking #freightforwarders #shipping #brokers #business
You should know about scrap metal pricing and global commodities market.
You should understand dead metric ton vs real tonnage.
It's important to know about the composite materials of a ship, especially the boilers, turbines, fittings/trimmings - what can be salvages and resold and what can be scrapped.
Are their toxic materials on board the ship?
Towing distance - who pays.
Bank loans/financing - how is it structured.
There are hundreds of questions you can ask but the best is to work as a volunteer at a ship scrapyard.
I would start by selecting what type of ships you would like to broker, for example what field of transportation you are interested in (Petroleum, gas, containers ...etc). As a ship broker you will typically be put on a team that is dedicated to one sector.
Secondly, I would get acquainted with the economics of shipping:
- Read a charter party (the contract to charter a vessel)
- Understand freight rates, demurrage, laytime ...etc (All those terms are mentioned in charter contracts)
- Know the different vessel sizes (Suezmax, panamax, VLCC ...etc)
Finally, I would do research on companies that constitute the supply and demand of vessel chartering in the sector of interest in order to network. As a broker you will rely on your network to bring supply and demand together.
Shipping is a very interesting field, but know that it's not a 9 to 5 jobs. Since vessels and ports never sleep, you might get calls at 3am from a charterer that needs to urgently ask a vessel to increase speed to reach a port on time.
I hope this helps.